At the Capital Markets Day 1 December 2006, Aker Kvaerner announced the following:

"The intention is to give Aker Kvaerner shareholders a competitive yearly dividend by distributing 30-50 percent of net profit, either through cash dividend and /or share buy-back."

"Aker Kvaerner's target of an EBITDA margin of 6.5-7.0 percent by the end of 2007 is confirmed. Based on the quality of the order backlog and the positive market outlook, there is potential for further improvement in the profitability after 2007.

At the Ordinary General Assembly in Aker Kværner ASA, taking place 29 March 2007, the Board of Directors will propose the following:

To split the face value of NOK 10 per share to NOK 2 per share and thus increase outstanding number of shares to 275 146 170.

A renewal of the "Share buy-back program" of up to 10 percent of the outstanding shares for between NOK 1 and NOK 900 in the period 18 months following the day of the General Assembly Meeting 29 March 2007.

Based on the expected closing of the transaction with Metso before year end 2006, to pay an extraordinary dividend of NOK 30 per share, in total NOK 1 650 million.

ENDS

 

 

Media:
Torbjørn S. Andersen, SVP Group Communications, Aker Kvaerner. Tel: +47 67 51 30 36, Mob: +47 928 85 542

 

Investor relations:
Lasse Torkildsen, VP Investor Relations, Aker Kvaerner, Tel: +47 67 51 30 39

 

AKER KVÆRNER ASA, through its subsidiaries and affiliates ("Aker Kvaerner"), is a leading global provider of engineering and construction services, technology products and integrated solutions. The business within Aker Kvaerner comprises several industries, including Oil & Gas, Refining & Chemicals, Mining & Metals, Power Generation and Pulp & Paper. The Aker Kvaerner group is organised into two principal business streams, namely Oil & Gas and E&C, each consisting of a number of separate legal entities. Aker Kvaerner is used as the common brand/trademark for most of these entities.

The parent company in the group is Aker Kværner ASA. Aker Kvaerner has aggregated annual revenues of approximately NOK 41.4 billion and employs approximately 24 000 people in more than 30 countries.

Aker Kvaerner is part of the Aker Group (www.akerasa.com), a leading multi-industry powerhouse with more than 50 000 employees and NOK 80 billion revenues. Aker owns 50.01 per cent of Aker Kvaerner, and the group is also a major European shipbuilder and a significant participant in the fisheries industry.

This press release may include forward-looking information or statements and is subject to our disclaimer, see our web-pages www.akerkvaerner.com